Census Daily Feature on Travelers Insurance
FRIDAY, FEBRUARY 5: CAR INSURANCE
Profile America — Friday, February 5th. Car insurance is both required and a major item in the budget of most households. The idea of insuring cars against accidents began this month in 1898 when the Traveler’s Insurance Company issued a policy to Dr. Truman Martin of Buffalo. His policy cost $12.25 and gave him $5,000 in coverage. Martin was chiefly concerned about accidents between his automobile — one of fewer than 4,000 in the entire country at the time — and horses, which numbered about 18 million. Now, cars and trucks outnumber horses more than 247 million to just over 9 million. The average car costs its owner $817 a year to insure. You can find these and more facts about America from the U.S. Census Bureau, conducting the 2010 Census beginning April 1st.
Historical Statistics of the United States: Colonial Times to 1970, p. 520, 716, 1208
Statistical Abstract of the United States 2010, t. 1186, 1060
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